---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000544"
form_type: "8-K"
ticker: null
cik: "0001039466"
company_name: "NovAccess Global Inc."
filed_at: "2024-05-17T23:59:59+00:00"
generated_at: "2026-06-01T14:16:05.516262+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NovAccess issues $117K note to AJB Capital, acquires 18.6% of Fendix Media for shares

## Summary
- Issued $117,000 promissory note to AJB Capital with 12% interest, due Nov 13, 2024; 10% OID; warrants for 10M shares at $0.0001 each.
- Proceeds from AJB note used to repay all remaining debt to 1800 Diagonal Lending LLC, retiring that obligation.
- Acquired 18.6% ownership in Fendix Media in exchange for 14,795,455 newly-issued unregistered shares of NovAccess common stock.
- Previously disclosed $3.63M equity and $7.05M loan from Sumner Global remains pending; close expected but not guaranteed.
- AJB note includes default conversion at a discount, 18% default interest, and covenants restricting asset sales and additional debt.

## SEC filing metadata
- accession: 0001185185-24-000544
- form_type: 8-K
- cik: 0001039466
- company_name: NovAccess Global Inc.
- filed_at: 2024-05-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000544/0001185185-24-000544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000544/novaccess20240517_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000544
- JSON: https://secwatch.observer/filing/0001185185-24-000544.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000544.txt

## Key facts
- Debt Financings
  NovAccess Global Inc. incurred loan of $117,000 with AJB Capital Investments, LLC at 12% a year maturing November 13, 2024.
  - Instrument: loan
  - Principal: $117,000
  - Counterparty: AJB Capital Investments, LLC
  - Rate: 12% a year
  - Maturity: November 13, 2024
  - Event: incurrence
  source text: entered into a securities purchase agreement (the “SPA”) with AJB Capital Investments, LLC (“AJB”) and issued a promissory note in the principal amount of $117,000 (the “note”) to AJB pursuant to the SPA
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000544/0001185185-24-000544-index.htm
- Material Agreements
  NovAccess Global Inc. entered into securities purchase agreement with AJB Capital Investments, LLC valued at $117,000 (effective 2024-05-13).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: AJB Capital Investments, LLC
  - Value: $117,000
  - Effective: 2024-05-13
  source text: On May 13, 2024, NovAccess Global Inc. (“we,” “NovAccess” or the “company”) entered into a securities purchase agreement (the “SPA”) with AJB Capital Investments, LLC (“AJB”) and issued a promissory note in the principal amount of $117,000 (the “note”) to AJB pursuant to the SPA.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000544/0001185185-24-000544-index.htm
- Material Agreements
  NovAccess Global Inc. entered into stock purchase agreement with Dawn Digital Limited (effective 2024-05-17).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Dawn Digital Limited
  - Effective: 2024-05-17
  source text: On May 17, 2024, we entered into a stock purchase agreement with Dawn Digital Limited, a company owned by David Sumner, and acquired an 18.6% ownership interest in Fendix Media Limited in exchange for 14,795,455 newly-issued unregistered shares of NovAccess common stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039466/000118518524000544/0001185185-24-000544-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.